Market Watch 2017 YEAR IN REVIEW
South End, Portsmouth NH
As you will read in these pages, we have just completed a remarkable year for real estate in the Seacoast. Despite inventory at record low levels, sales volume was only marginally affected and prices continued to attain record levels. It’s no secret that we enjoy living in a unique place on this planet. One that really is one of the most livable areas anywhere. With its history-driven “sense of place,” Portsmouth has been key to the real estate health of the Seacoast. It’s low unemployment, thriving theater, wonderful restaurants and so much more, has made it a destination city. Portsmouth remains tremendously popular with buyers from all over the world. I am very proud of the role that this company played in the 2017 market. We build our business reputation on impeccable professionalism and cutting-edge marketing skill. All packaged under the globally respected Sotheby’s International Realty brand. The local buying public seems to have clearly seen that. Let me explain. There are more than 900 agents in the Seacoast Board of REALTORS. Less than 25 of them work at Tate & Foss Sotheby’s International Realty. Yet we consistently logged important sales in most of the major Seacoast communities. In our own backyard of Rye and New Castle, we were involved with more than 20% of the $1 million dollar-plus transactions. We brokered the very biggest sales in fiercely competitive Portsmouth as well as unlikely places like Stratham, Brentwood, Berwick and Kennebunkport. We logged the top two or three sales in Hampton, North Hampton and Exeter—even making the top ten in Barrington! That’s an impressive record any way you slice it. We are grateful and humbled by the confidence and trust of the buyers and sellers who worked with us in 2017. But I can assure you that we won’t be resting on our remarkable sales record as we go into 2018. Instead, we will build on it and continue to sharpen our skills and professionalism, always striving to be the best at what we do. Enjoy and learn from our 2017 Market Watch real estate report. We look forward to serving you in the months and years ahead. Anthony Jalbert Principal Broker
1 • MARKET WATCH
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SOLD
Penthouse, Pier II at Ten State Street, Portsmouth NH
Sections 3 5 7 9 11 13 15 17 19 21 23 25 27
Key Observations
SEACOAST OVERVIEW PORTSMOUTH AREA THE HAMPTONS EXETER AREA DOVER AREA DURHAM AREA ELIOT & THE BERWICKS SO. YORK COUNTY COAST LUXURY WATERFRONT
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
An even more competitive market with monthly median sale prices creeping towards $500,000. If inventory levels continue to slide, bidding wars and competitive buying scenarios will only intensify. Cash will, more than ever, be king as sale prices defy appraisals.
HISTORIC & ANTIQUE FARM & EQUESTRIAN OUR TEAM Pictured on Cover: Beacon Rock on Wild Rose Lane, New Castle NH Photography pictured within this report courtesy of Mike Barron Photography and Clear Eye Photo
Special thanks to Chief Statistician/Sales Associate John Rice for his significant contribution. Data sourced from New England Real Estate Network (NEREN), analyzed by Tate & Foss Sotheby’s International Realty. NEREN does not guarantee nor is in any way responsible for its accuracy and the data maintained may not reflect all real estate activity in the market. All reproduction of data requires TFSIR’s written consent. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 2
Seacoast Overview
Exeter • Greenland • Hampton • Hampton Falls • New Castle • Newington • Newfields Newmarket • North Hampton • Portsmouth • Rye/Rye Beach • Seabrook • Stratham
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$378,514 Number of Homes Sold
5468 Days on Market
63 3 • MARKET WATCH
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We focus on “13 Sample Seacoast Towns*” to gauge the health of our real estate market—in short, it remains very good. With interest rates still low and inventory shrinking, prices continued to rise, just as they did in 2016. By year’s end, the median price of a single family home stood at an annual record of $447,000, up 9% from last year. All that despite a 4.6% decline in overall sales volume. Condo sales increased 4.2%, driven by affordable units priced below $300,000. And $300,000 was the condo median sale price for the year. Of note were the 152 sales that closed in August, the most for any month since July 2015. Proof that on the Seacoast, “if they list it, it will sell.” Lack of inventory seemed the only inhibitor to an otherwise very strong market. By December, available inventory was 19% lower than last year, standing at a level not seen in six plus years. Not surprisingly, we saw fierce bidding wars everywhere. We were involved in a Portsmouth sale that closed $100,000+ over list, for example. The most active price range had traditionally been for homes priced below $400,000. But that distinction gave way in June to the $400-$700,000 category. In fact, monthly median sale prices never dipped below $400,000 all year and reached $473,750 in the August “feeding frenzy.” We called it last year, predicting lower volume and escalating prices. In sum, a most classic Seller’s market. Barring global financial adversity and world tensions, there should be more of the same in 2018. *Exeter, Greenland, New Castle, Hampton, Hampton Falls, Newington, Newfields, Newmarket, North Hampton, Portsmouth, Rye, Seabrook, Stratham. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 4
Greater Portsmouth Area
Greenland • New Castle • Newington • Portsmouth • Rye • Rye Beach
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$650,775 Number of Homes Sold
549 Days on Market
74 5 • MARKET WATCH
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Greenland
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
84 77 $517,236 $494,750 $3,010,000
84 101 $546,879 $579,900 $1,150,000
Change 0% 31% 6% 17% -62%
New Castle
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
23 77 $965,387 $975,000 $1,925,000
17 164 $1,548,794 $1,250,000 $4,100,000
Tax Rate: $16.64 Newington
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
10 99 $822,219 $704,500 $1,500,000
12 115 $717,325 $709,450 $1,475,000
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
89 107 $794,028 $694,500 $2,750,000
97 82 $840,851 $661,000 $4,600,000
Tax Rate: $10.56
-26% 114% 60% 28% 113%
Tax Rate: $5.85 Change 20% 17% -13% 1% -2%
Portsmouth
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
345 66 $483,053 $385,000 $3,000,000
331 57 $553,823 $459,000 $3,056,000
Tax Rate: $9.10 Rye
Change
Change -4% -13% 15% 19% 2%
Tax Rate: $15.38 Change 9% -23% 6% -5% 67%
Rye Beach
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
6 133 $1,212,775 $1,212,500 $1,669,000
8 150 $1,440,236 $1,149,288 $3,438,450
Change 33% 13% 19% -5% 106%
Tax Rate: $10.36
The “Golden Goose” that is Portsmouth real estate continued to log impressive numbers in 2017. Even with inventory off on average of about 20% from 2016 levels, sales declined a mere 4%. More than ever, fierce multiple offer scenarios defined sales in the city’s prime neighborhoods. Portsmouth has shrewdly built on its rich, historical “sense of place.” Combined with a vital cultural community, theater, restaurants, coastal recreational opportunities and more, what’s not to like? It’s a hugely attractive community to upper-end retirees, professionals, families and anyone else who can afford to buy a piece of the action. Subsequently, the median sale price for Portsmouth surged a remarkable 19% last year. Condominium sale prices continued to break the $3 million dollar barrier. The city’s Days on Market (DOM) was again less than any abutting town in the market area. Tate & Foss SIR was involved in three of last year’s top seven sales—six of which were condos. The city’s most significant condominium transaction to date went under contract in November and closed on the first business day of the New Year at $3,697,500. Tate & Foss SIR had the privilege of representing both parties. Outside of Portsmouth, only New Castle saw fewer sales than in 2016 despite the inventory shortage. Meanwhile, average prices were up everywhere except Newington, which still recorded a healthy $717,325 figure. New Castle and Rye Beach had the highest median sale prices, each topping $1.1 million respectively.
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MARKET WATCH • 6
The Hamptons
Hampton • Hampton Falls • North Hampton • Seabrook • South Hampton
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$418,215 Number of Homes Sold
658 Days on Market
79 7 • MARKET WATCH
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Hampton
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
422 81 $338,422 $321,000 $2,250,000
442 80 $359,770 $349,950 $1,630,000
Change
Hampton Falls
2016
2017
5% -1% 6% 9% -28%
Number of Sales Days on Market Average Price Median Price Highest Price
37 92 $501,126 $450,000 $1,385,000
31 72 $503,535 $400,000 $1,270,000
Tax Rate: $16.37 North Hampton 2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
86 59 $714,363 $602,500 $5,476,343
68 75 $548,882 $492,938 $1,250,000
2017
Number of Sales Days on Market Average Price Median Price Highest Price
13 146 $423,500 $409,000 $825,000
9 30 $354,567 $325,000 $796,700
-16% -22% 0% -11% -8%
Tax Rate: $21.10 Change 26% -22% 30% 22% 338%
Seabrook
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
84 80 $399,872 $337,500 $1,318,000
86 83 $390,894 $344,777 $1,275,000
Tax Rate: $18.50 South Hampton 2016
Change
Change 2% 4% -2% 2% -3%
Tax Rate: $16.25 Change 44% 381% 19% 26% 4%
Average Days on Market in North Hampton Down by
Tax Rate: $19.24
22%
Significant Sale: North Hampton $1,800,000 | June 2017 Listed by Tate & Foss Sotheby’s International Realty The Hamptons boast easy access to beautiful beaches, horse country and urban centers in Massachusetts. Not surprisingly, the area enjoyed another solid sales year. Only Hampton Falls saw a decrease and a corresponding drop in prices. Elsewhere, the good times rolled. North Hampton was by far the hottest town in this region. Sales jumped 26% from last year while average and median sale prices soared an eye-popping 30 and 22% respectively. Tate & Foss SIR participated in three of the town’s top ten sales, including the second biggest transaction at 51 Chapel Road, which closed at $2.95 million. Hampton’s volume easily outpaced all other communities as its median sale price hit $349,950, a 9% improvement over 2016. Once again, Tate & Foss SIR was a significant presence. We closed Hampton’s second largest sale at 968 Ocean Blvd ($1.375 million) and logged three of the town’s eight largest transactions. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 8
Greater Exeter Area
Brentwood • East Kingston • Exeter • Kensington • Newfields • Stratham
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$381,607 Number of Homes Sold
614 Days on Market
58 9 • MARKET WATCH
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Brentwood
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
47 80 $383,991 $392,000 $560,000
70 41 $393,214 $385,000 $799,000
Change 49% -48% 2% -2% 43%
East Kingston
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
39 49 $349,579 $359,900 $597,500
47 87 $377,057 $367,000 $992,000
Tax Rate: $24.79 Exeter
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
291 65 $320,268 $309,900 $975,000
267 63 $336,701 $326,000 $1,085,000
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
38 102 $440,158 $389,500 $865,000
32 69 $450,878 $457,500 $665,000
Tax Rate: $23.94
21% 78% 8% 2% 66%
Tax Rate: $24.77 Change -8% -3% 5% 5% 11%
Kensington
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
32 72 $382,502 $337,950 $687,000
28 71 $433,261 $427,500 $635,000
Tax Rate: $26.77 Newfields
Change
Change -13% -3% 13% 26% -8%
Tax Rate: $22.39 Change -16% -32% 2% 17% -23%
Stratham
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
175 67 $409,536 $379,900 $1,019,700
170 46 $427,069 $422,000 $1,350,000
Change -3% -30% 4% 11% 32%
Tax Rate: $20.30
Significant Sale: Brentwood $799,000 | October 2017 Listed by Tate & Foss Sotheby’s International Realty The Greater Exeter Area has all you could want for the best in “country living.” Here you’ll find some of New Hampshire’s finest public and private schools. There is also first-rate infrastructure that includes the Rinks at Exeter, Downeaster train and easy access to urban centers. The region’s popularity was reflected in the marketing time (i.e. DOM) most towns recorded. Houses were selling in Brentwood, for example, at a pace 48% better than last year. Tate & Foss SIR logged the town’s biggest sale at 31 Peabody Drive ($799,000.) Newfields had the region’s highest median sale price at $457,500. Stratham owned the region’s biggest sale at 10 Wingate Court ($1.35 million,) another Tate & Foss SIR transaction. Still, Exeter has always been this market’s “hub.” This year, while volume dropped 8%, Exeter recorded a rare plus million dollar sale. Tate & Foss SIR was involved with the sale of 82 High Street for $800,500, the third largest transaction there. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 10
Greater Dover Area
Dover • Rochester • Rollinsford • Somersworth
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$246,029 Number of Homes Sold
1141 Days on Market
47 11 • MARKET WATCH
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Dover
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
490 57 $273,252 $243,000 $1,275,500
456 51 $308,766 $282,763 $2,835,000
Change -7% -11% 13% 16% 122%
Rochester
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
398 62 $185,218 $184,000 $570,000
489 46 $196,898 $195,900 $458,000
Tax Rate: $25.87 Rollinsford
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
45 58 $229,698 $185,000 $675,000
39 35 $244,263 $235,000 $403,900
Tax Rate: $23.28
Change 23% -26% 6% 6% -20%
Tax Rate: $26.33 Change
Somersworth
2016
2017
-13% -40% 6% 27% -40%
Number of Sales Days on Market Average Price Median Price Highest Price
175 69 $196,179 $183,000 $394,900
157 43 $217,278 $216,000 $457,500
Change -10% -38% 11% 18% 16%
Tax Rate: $33.09
Under Agreement: Dover Offered at $975,000 Listed by Tate & Foss Sotheby’s International Realty
For starters, three of this region’s four towns have highest sale prices below $460,000. That’s a big motivating factor for budget conscious seacoast buyers currently flocking to the area. In fact, first-time buyers can still find attractive offerings under $275,000. These properties are snapped up in a matter of days if not hours. Besides affordable housing, buyers will find major improvements to area public schools and several good private schools as well. Wentworth-Douglass Hospital, shopping, restaurants, the Children’s Museum, Rochester Opera House and a Downeast train stop help drive the area’s economic engine. And UNH is just minutes away. Lack of inventory is the major problem here as sales slipped in every town except Rochester. The Lilac City’s $195,900 median sale price is the lowest in any market area and sparked a 23% increase in sales. Affordable Rollinsford and Somersworth saw their DOM fall by a remarkable 40 and 38% respectively. A modestly priced Tate & Foss SIR Somersworth listing went under agreement after one open house. Our agents continue to be very active with both buyers and sellers in this increasingly popular marketplace.
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MARKET WATCH • 12
Greater Durham Area
Barrington • Durham • Lee • Madbury
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$339,523 Number of Homes Sold
351 Days on Market
61 13 • MARKET WATCH
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Barrington
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
170 71 $278,674 $270,000 $725,000
165 71 $288,393 $290,525 $592,475
Change -3% 0% 3% 8% -18%
Durham
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
92 86 $349,621 $332,250 $713,080
99 55 $378,820 $363,500 $899,000
Tax Rate: $24.08 Lee
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
62 74 $340,704 $329,950 $660,000
55 47 $369,092 $340,000 $800,000
Tax Rate: $29.94
Change 8% -36% 8% 9% 26%
Tax Rate: $30.64 Change -11% -36% 8% 3% 21%
Madbury
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
28 124 $330,450 $321,950 $762,000
32 46 $430,763 $358,500 $1,000,000
Change 14% -63% 30% 11% 31%
Tax Rate: $28.75
Offered for Sale: Madbury $529,900 | 4 BR, 2.5 BA Listed by Tate & Foss Sotheby’s International Realty
Like the Greater Dover market, the Greater Durham Area offered an affordable alternative to pricey seacoast markets. Median sale prices across the board were no more than $363,000 although sales prices rose three to 11% The area remains loaded with other incentives to buy besides price. Oyster River High School is rated tops in New Hampshire. UNH offers a myriad of educational and cultural opportunities. The school makes Durham extremely attractive to the college town retiree market. That happens to be one of real estate’s rapidly growing demographics. And the horse farms of Lee and Madbury are increasingly harder to match anywhere else. Like its abutting neighbors, this market saw uneven sales volume, due to lack of inventory. What inventory there was went quickly. In Durham, Lee and Madbury, DOM decreased 36 to a remarkable 63%. It’s a far cry from the days not that long ago when DOM was measured almost in years. Then only a handful of sales accounted for market activity. Barrington with its amazing infrastructure improvements, saw 165 sales last year, making it the sixth busiest market in our region. The town boasted a very modest median sale price of $290,525. Oddly enough, it saw exactly the same DOM as in 2016: 71 days. Tate & Foss SIR recorded one of Barrington’s top ten sales in the last six months of 2017. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 14
Eliot and The Berwicks
Berwick • Eliot • North Berwick • South Berwick
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$274,056 Number of Homes Sold
420 Days on Market
48 15 • MARKET WATCH
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Berwick
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
118 59 $225,794 $235,000 $480,000
117 44 $230,139 $230,000 $449,000
Change -1% -26% 2% -2% -6%
Eliot
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
95 76 $352,735 $312,000 $995,000
101 63 $355,353 $338,515 $850,000
Tax Rate: $17.15 North Berwick
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
52 62 $241,152 $238,950 $460,000
90 34 $235,399 $229,750 $499,000
Change 6% -17% 1% 8% -15%
Tax Rate: $14.30 Change
South Berwick
2016
2017
73% -44% -2% -4% 8%
Number of Sales Days on Market Average Price Median Price Highest Price
98 68 $247,564 $242,500 $450,000
112 48 $277,686 $275,000 $605,000
Tax Rate: $12.60
Change 14% -30% 12% 13% 34%
Tax Rate: $19
Significant Sale: South Berwick $390,000 | October 2017 Sold by Tate & Foss Sotheby’s International Realty
Eliot and the Berwicks offer sophisticated country lifestyles underpinned with excellent public and private schools. In fact, many buyers choose to move here for the Marshwood school system. There is also easy access to both Wentworth-Douglass and York Hospitals. All this, plus abundant Piscataqua River recreational opportunities and nearby golf and tennis clubs. But close as they are to tax-free New Hampshire, many buyers hesitate crossing the river to these towns. The Great Recession truly slammed this market segment and prices have been slow to recover. But there seems to be light at the end of the proverbial tunnel. With median sale prices in the $200,000s and $300,000s, sales volume increased almost across the board, including a monstrous 73% jump in North Berwick. DOM registered impressive gains, decreasing 17 to 44% in all towns. And for the idealistic gentleman farmer seeking the landed lifestyle, we say, “Go north, young man!” It’s still possible to find properties of significant acreage here. Tate & Foss SIR, in fact, was involved with Berwick’s (and one of the Seacoast’s) major land sale. We partnered with the Maine Farmland Trust to preserve more than 70 acres of prime farmland and forest.
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MARKET WATCH • 16
Southern York County Coast
Kennebunk • Kennebunkport • Kittery • Ogunquit • Wells • York
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$434,004 Number of Homes Sold
1257 Days on Market
80 17 • MARKET WATCH
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Kennebunk
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
299 92 $350,208 $290,000 $2,100,000
246 70 $381,534 $321,500 $2,200,000
Change -18% -24% 9% 11% 5%
Kennebunkport 2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
100 110 $718,358 $584,000 $3,550,000
81 121 $554,100 $448,900 $3,150,000
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
155 73 $374,264 $313,500 $1,720,000
136 46 $448,320 $359,950 $3,475,000
Change -12% -38% 20% 15% 102%
Ogunquit
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
76 84 $474,384 $442,000 $1,300,000
64 90 $562,955 $509,900 $2,250,000
Tax Rate: $16.50 Wells
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
361 82 $313,196 $267,500 $2,200,000
384 89 $322,860 $307,865 $2,310,000
Tax Rate: $10.16
23% -9% 30% 30% 13%
Tax Rate: $8.73
Tax Rate: $16.55 Kittery
Change
Change -16% 7% 19% 15% 73%
Tax Rate: $7.58 Change 6% 9% 3% 15% 5%
York
2016
2017
Number of Sales Days on Market Average Price Median Price Highest Price
317 120 $464,433 $375,000 $3,195,000
327 79 $485,845 $395,000 $3,700,000
Change 3% -34% 5% 5% 16%
Tax Rate: $10.95
Significant Sale: Kennebunkport $740,000 | September 2017 Listed by Tate & Foss Sotheby’s International Realty
Southern York County offers high quality oceanfront and a thriving seasonal market. The area is driven by abundant recreational opportunities, including some of the world’s most beautiful sandy beaches. Schools at all levels are excellent, the medical community enjoys high marks and there are many cultural venues. All this, plus easy access to key transportation outlets including the Portland Jetport. Average and median sales prices improved in all six towns we monitor. DOM shrank everywhere and by as much as 34% in York and 30% in Kennebunkport. That’s all the more impressive since Kennebunkport’s median sale price of $584,000 was by far the highest of all Southern Maine communities. Tate & Foss SIR was involved with the town’s only major land sale at 75 Turbat’s Creek which transferred at $740,000. Meanwhile, York enjoyed the highest volume, which was up and down in the region due to a shortage of inventory. Impressively, every town in this market claimed a major sale in excess of $2.2 million, a statistic no other market on either side of the river can claim. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 18
Luxury
SOLD
117 Bow Street, Portsmouth NH
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$1,662,386 Number of Homes Sold
147 Days on Market
128 19 • MARKET WATCH
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016
2017
Change
113 123 $1,497,891 $1,360,000 $3,195,000
147 128 $1,662,386 $1,350,000 $5,476,343
30% 4% 11% -1% 71%
Significant Sale: Portsmouth $2,786,176 | October 2017 Listed & Sold by Tate & Foss Sotheby’s International Realty
Significant Sale: Rye $1,600,000 | August 2017 Listed & Sold by Tate & Foss Sotheby’s International Realty
Significant Sale: New Castle $1,520,000 | September 2017 Listed by Tate & Foss Sotheby’s International Realty
19
Number of Luxury properties sold by TFSIR in 2017 Average sales price
$1,648,536
40% of all Luxury sales were in the
Greater Portsmouth Area
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MARKET WATCH • 20
Waterfront
Offered for Sale
149 Wild Rose Lane, New Castle NH
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$752,452 Number of Homes Sold
334 Days on Market
111 21 • MARKET WATCH
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016
2017
Change
250 109 $666,090 $475,750 $3,195,000
334 111 $752,452 $508,373 $5,476,343
34% 2% 13% 7% 71%
Significant Sale: Hampton $1,375,000 | November 2017 Sold by Tate & Foss Sotheby’s International Realty
Significant Sale: Stratham $1,350,000 | September 2017 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: New Castle $1,134,000 | November 2017 Listed by Tate & Foss Sotheby’s International Realty
10
Number of Waterfront properties sold by TFSIR in 2017 Average sales price
$942,650
35% of all Waterfront sales were above $700,000
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MARKET WATCH • 22
Historic & Antique
200 New Castle Avenue, Portsmouth NH
Offered for Sale
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$430,406 Number of Homes Sold
385 Days on Market
70 23 • MARKET WATCH
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016
2017
Change
392 84 $355,438 $282,700 $3,000,000
385 70 $430,406 $330,000 $3,700,000
-2% -16% 21% 17% 23%
Significant Sale: Portsmouth $1,265,000 | August 2017 Listed & Sold by Tate & Foss Sotheby’s International Realty
Significant Sale: Portsmouth $875,000 | October 2017 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: Exeter $800,504 | June 2017 Listed by Tate & Foss Sotheby’s International Realty
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Number of Historic & Antique properties sold by TFSIR in 2017 Average sales price
$654,819
37%
of all Historic & Antique sales above $700,000 were in Portsmouth
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MARKET WATCH • 24
Farm & Equestrian
224 Mill Pond Road, Nottingham NH
Offered For Sale
2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$495,714 Number of Homes Sold
141 Days on Market
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016
2017
Change
92 119 $400,704 $329,950 $3,150,000
141 77 $495,714 $365,000 $5,476,343
53% -35% 24% 11% 74%
Significant Sale: North Hampton $1,050,000 | August 2017 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: Madbury $1,000,000 | June 2017 Listed & Sold by Tate & Foss Sotheby’s International Realty
Significant Sale: Greenland $694,200 | December 2017 Listed by Tate & Foss Sotheby’s International Realty
4
Number of Farm & Equestrian properties sold by TFSIR in 2017 Average sales price
$779,875
24%
of all Farm & Equestrian sales above $500,000 were in the Greater Exeter Area
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MARKET WATCH • 26
Our Team
Tony Jalbert Principal Broker c 603.498.6241
Marion Barron Associate Broker c 603.502.8245
Rachael Brown Sales Associate c 603.498.4227
Mimi Calhoun Associate Broker c 603.918.9830
Michelle Canty Sales Associate c 603.682.6074
Robyne Harrison Sales Associate c 603.918.6093
Heather Heigis Sales Associate c 603.817.5605
Mary Beth Hixon Sales Associate c 603.548.5380
Travis Holland Associate Broker c 207.240.7499
Lynne Joyce Associate Broker c 603.591.8489
Manuela Kutzer Sales Associate c 603.828.2195
Brett Mulvey Sales Associate c 603.396.6098
Jenifer Parker Sales Associate c 603.498.0555
Sharon Parker Sales Associate c 603.828.1705
John Rice Associate Broker c 603.498.4034
Barb Shea Sales Associate c 603.498.2115
Andrea Swanson Sales Associate c 603.498.8978
Ned Tate Associate Broker c 603.531.1040
Jaynee Whitney Sales Associate c 603.380.5140
27 • MARKET WATCH
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TOP 10 REASONS TO LIST WITH TATE & FOSS SOTHEBY’S INTERNATIONAL REALTY
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2
LEGACY
BRAND
Sotheby’s has been uniting collectors with worldclass works of art since 1744. That legacy is alive in the collaboration that exists between the auction house and realty, and all that is done to leverage our brand’s rich history, heritage and sophistication within the global markets we serve.
Sotheby’s is a rare brand that instantly evokes quality, service and an appreciation of truly valuable items. This positioning allows us to connect with affluent consumers who share in our brand vision and commitment to excellence.
3
4
PEOPLE
NETWORK
Our sales associates, staff and partners contribute to our success every day. Our team is exceptionally experienced and our associates are highly qualified advisors who go above and beyond to facilitate all of our clients’ real estate needs.
Sotheby’s International Realty represents the only true, worldwide real estate network. Thousands of office-to-office referrals are processed every year and many events are held to ensure that our associates establish great business relationships within the network.
5
6
MARKETING
REACH
Sotheby’s International Realty has an extraordinary domestic and international marketing plan, which incudes. partnerships with leading media such as the Wall Street Journal, New York Times and Architectural Digest to provide the best exposure for SIR listings.
With an outstanding brand, a robust marketing plan and a strong network, we have unparalled reach to qualified home buyers. Tate & Foss Sotheby’s International Realty associates are able to tailor their plans to target an array of unique buyer profiles.
7
8
STANDARDS
SERVICE
Our property marketing is developed with the highest standards in mind. High-resolution imagery, eloquent description writing and impeccable presentation are essential to every Tate & Foss Sotheby’s International Realty listing.
Our high standards are not marketing specific. Tate & Foss Sotheby’s International Realty sales associates pride themselves in offering white-glove service from beginning to end, establishing longlasting relationships with their clients.
TRACK RECORD
9
OVERALL EXPERIENCE
Over the last 40+ years, Tate & Foss Sotheby’s International Realty has developed an impressive track record, closing many significant sales. We have a reputation for selling a majority of the Seacoast’s unique, luxury and waterfront properties across all price points.
All prior points combine to create an outstanding, seamless client experience. For hundreds of years, the Sotheby’s brand has grown and excelled due to its respect for tradition and focus on innovation. Tate & Foss Sotheby’s International Realty is no exception.
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MARKET WATCH • 28
566 Washington Road • Rye, NH 03870 6 0 3 . 9 6 4 . 8 0 2 8 | Tatea n d Fo ss.co m